Euronav NV (EURN) Downgraded by Zacks Investment Research to “Sell”
Euronav NV (NASDAQ:EURN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “
A number of other equities research analysts have also weighed in on the stock. Citigroup Inc. reissued a “buy” rating and set a $9.00 price objective (down from $11.00) on shares of Euronav NV in a report on Saturday, October 8th. Wells Fargo & Co. reissued a “buy” rating on shares of Euronav NV in a report on Tuesday, September 27th. Credit Suisse Group AG reissued a “buy” rating and set a $15.00 price objective on shares of Euronav NV in a report on Friday, August 26th. Morgan Stanley reissued an “equal weight” rating and set a $9.50 price objective (down from $11.00) on shares of Euronav NV in a report on Thursday, August 25th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Euronav NV in a report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Euronav NV currently has a consensus rating of “Hold” and a consensus target price of $11.17.
Euronav NV (NASDAQ:EURN) traded up 2.60% during midday trading on Friday, reaching $7.90. The company’s stock had a trading volume of 642,397 shares. The stock’s 50 day moving average price is $8.37 and its 200-day moving average price is $9.41. Euronav NV has a one year low of $7.39 and a one year high of $16.23. The stock has a market cap of $1.25 billion and a price-to-earnings ratio of 3.80.
Euronav NV (NASDAQ:EURN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.13. On average, analysts forecast that Euronav NV will post $1.88 EPS for the current fiscal year.
The firm also recently declared a special dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 21st were issued a $0.55 dividend. The ex-dividend date was Tuesday, September 20th.
Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Euronav NV by 446.0% in the second quarter. Bank of New York Mellon Corp now owns 2,652,679 shares of the company’s stock valued at $24,295,000 after buying an additional 2,166,814 shares during the last quarter. AJO LP raised its stake in Euronav NV by 236.9% in the second quarter. AJO LP now owns 1,704,643 shares of the company’s stock valued at $15,632,000 after buying an additional 1,198,652 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Euronav NV by 2,634.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 696,843 shares of the company’s stock valued at $6,382,000 after buying an additional 671,363 shares during the last quarter. Marshall Wace LLP raised its stake in Euronav NV by 914.3% in the second quarter. Marshall Wace LLP now owns 693,504 shares of the company’s stock valued at $6,359,000 after buying an additional 625,130 shares during the last quarter. Finally, AXA acquired a new stake in Euronav NV during the second quarter valued at approximately $3,631,000.
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